Baja Mining Corp.

Boleo Project Schedule and Corporate Update

VANCOUVER, BRITISH COLUMBIA--(Marketwired - Dec. 23, 2013) - Baja Mining Corp. ("Baja" or the "Company") (TSX:BAJ)(OTCQB:BAJFF) wishes to provide an update on the Boleo Project construction schedule and the SRK Boleo technical report, based on the latest information provided to it by Minera y Metalúrgica del Boleo, S.A.P.I. de C.V. ("MMB"). Baja holds a 10% ownership interest in MMB and has retained one representative on the five-member MMB board of directors and, as a result, has limited influence over decisions relating to the Project. In addition, the Company provides a status update on its separate Cinto Colorado tailings and slag recovery project, as well as the TSX listing review.

Construction Schedule Update

MMB has reported to Baja that:

• MMB is targeting mechanical completion of the copper circuit by the end of January 2014, but given potential manpower shortages during the holiday period there is potential that this completion may slip to the end of February.
  
  
• Plant commissioning is expected to extend three months from the date of mechanical completion of the copper circuit, with first ore (or hot commissioning) targeted to commence by May 1, 2014, and first copper production by June 1, 2014.
  
  
• The mechanical completion of the cobalt zinc circuits is now scheduled at the earliest for the middle of May 2014, with first production still scheduled at the earliest for July 1, 2014.
  
  

SRK Boleo Technical Report

The Company has been advised by MMB that the most recent version of the SRK Report being prepared for MMB and its lenders based on the updated Boleo mine plan has been submitted to MMB's commercial banks and is under review by the banks and their technical advisers. MMB further advises that, in parallel, Korea Resources Corporation and MMB continue their discussions with the banks to renegotiate the lending facilities and to agree to a longer-term standstill arrangement. The previous standstill agreement expired in May 2013.

The Company is currently unable to advance work on the updated NI 43-101 compliant technical report on the Boleo Project until all parties are in agreement on a final mine plan.

Cinto Colorado

The Company continues to advance its legal due diligence pertaining to title, licenses and environmental issues relating to Cinto Colorado. The Company is in discussions with Cinto Colorado to amend the Agreement, including extending the pre-feasibility study delivery date to accommodate the completion of legal due diligence, which has taken longer than the parties originally anticipated.